PMIF-U.TO vs. AGQ

Last updated Jun 5, 2026

PMIF-U.TO (PIMCO Monthly Income Fund (Canada)) and AGQ (ProShares Ultra Silver) are both exchange-traded funds - PMIF-U.TO is a Multisector Bonds fund actively managed by PIMCO, while AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%). PMIF-U.TO is actively managed, while AGQ is passively managed. Over the past 5 years, PMIF-U.TO returned 2.62%/yr vs 15.82%/yr for AGQ. At a 0.11 correlation, their price movements are largely independent. PMIF-U.TO charges 0.84%/yr vs 0.93%/yr for AGQ.

Performance

PMIF-U.TO vs. AGQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) and ProShares Ultra Silver (AGQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMIF-U.TO achieves a 0.55% return, which is significantly higher than AGQ's -29.18% return.

PMIF-U.TO

• 1D: 0.10%
• 1M: 0.45%
• YTD: 0.55%
• 6M: 0.71%
• 1Y: 6.69%
• 3Y*: 6.15%
• 5Y*: 2.62%
• 10Y*: —

AGQ

• 1D: 2.38%
• 1M: 0.62%
• YTD: -29.18%
• 6M: 1.31%
• 1Y: 149.89%
• 3Y*: 55.60%
• 5Y*: 15.82%
• 10Y*: 11.51%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PMIF-U.TO vs. AGQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	0.55%	9.02%	3.83%	7.22%	-6.89%	0.89%	3.42%	7.02%	0.69%
AGQ ProShares Ultra Silver	-29.18%	360.71%	23.92%	-15.09%	-7.89%	-32.25%	62.02%	20.02%	9.10%

Correlation

The correlation between PMIF-U.TO and AGQ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018	0.11

Return for Risk

PMIF-U.TO vs. AGQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PMIF-U.TO

PMIF-U.TO Risk / Return Rank: 56
PMIF-U.TO Sharpe Ratio Rank: 60
PMIF-U.TO Sortino Ratio Rank: 65
PMIF-U.TO Omega Ratio Rank: 62
PMIF-U.TO Calmar Ratio Rank: 43
PMIF-U.TO Martin Ratio Rank: 49

AGQ

AGQ Risk / Return Rank: 39
AGQ Sharpe Ratio Rank: 36
AGQ Sortino Ratio Rank: 39
AGQ Omega Ratio Rank: 54
AGQ Calmar Ratio Rank: 41
AGQ Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PMIF-U.TO vs. AGQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) and ProShares Ultra Silver (AGQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	PMIF-U.TO	AGQ	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.25	+0.75
Sortino ratio: Return per unit of downside risk	2.94	1.94	+1.00
Omega ratio: Gain probability vs. loss probability	1.37	1.33	+0.05
Calmar ratio: Return relative to maximum drawdown	2.09	1.98	+0.11
Martin ratio: Return relative to average drawdown	8.08	3.75	+4.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMIF-U.TO vs. AGQ - Sharpe Ratio Comparison

The current PMIF-U.TO Sharpe Ratio is 2.00, which is higher than the AGQ Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of PMIF-U.TO and AGQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PMIF-U.TO	AGQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	1.25	+0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.21	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.08	+0.51

Drawdowns

PMIF-U.TO vs. AGQ - Drawdown Comparison

The maximum PMIF-U.TO drawdown since its inception was -17.24%, smaller than the maximum AGQ drawdown of -98.16%. Use the drawdown chart below to compare losses from any high point for PMIF-U.TO and AGQ.

Drawdown Indicators

	PMIF-U.TO	AGQ	Difference
Max Drawdown Largest peak-to-trough decline	-17.24%	-98.16%	+80.92%
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	-76.21%	+72.99%
Max Drawdown (3Y) Largest decline over 3 years	-4.15%	-76.21%	+72.06%
Max Drawdown (5Y) Largest decline over 5 years	-11.03%	-76.21%	+65.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-76.25%	—
Current Drawdown Current decline from peak	-1.06%	-84.96%	+83.90%
Average Drawdown Average peak-to-trough decline	-2.32%	-79.86%	+77.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	40.19%	-39.36%

Volatility

PMIF-U.TO vs. AGQ - Volatility Comparison

The current volatility for PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) is 1.25%, while ProShares Ultra Silver (AGQ) has a volatility of 33.59%. This indicates that PMIF-U.TO experiences smaller price fluctuations and is considered to be less risky than AGQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMIF-U.TO	AGQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	33.59%	-32.34%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	133.69%	-131.18%
Volatility (1Y) Calculated over the trailing 1-year period	3.38%	120.79%	-117.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.05%	74.68%	-69.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.71%	65.65%	-58.94%

PMIF-U.TO vs. AGQ - Expense Ratio Comparison

PMIF-U.TO has a 0.84% expense ratio, which is lower than AGQ's 0.93% expense ratio.

Dividends

PMIF-U.TO vs. AGQ - Dividend Comparison

PMIF-U.TO's dividend yield for the trailing twelve months is around 3.93%, while AGQ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AGQ ProShares Ultra Silver	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PMIF-U.TO PIMCO Monthly Income Fund (Canada)	3.93%	3.96%	4.91%	4.53%	2.82%	2.40%	2.68%	2.38%	0.59%

Frequently Asked Questions

Can I hold both PMIF-U.TO and AGQ in my portfolio?

PMIF-U.TO and AGQ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMIF-U.TO or AGQ?

On fees, PMIF-U.TO is cheaper at 0.84% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PMIF-U.TO or AGQ?

PMIF-U.TO is cheaper with a 0.84% expense ratio, compared with 0.93% for AGQ.

What is the main difference between PMIF-U.TO and AGQ?

PMIF-U.TO is categorized as Multisector Bonds, while AGQ is Silver. They also come from different issuers: PIMCO and ProShares. Their fees differ too: 0.84% for PMIF-U.TO and 0.93% for AGQ.